A Balanced Scorecard For Public Transit System Performance Assessment

936 Words Apr 4th, 2016 4 Pages
What is a balanced scorecard? There are many variable definitions of a balanced scorecard but according to the Balance Scorecard Institute, it can be termed as:
“The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.[1]”
The above definition gives us the idea of a balanced scorecard system. The typical concept developed by Dr. Robert Kaplan and David Norton in 1992 is a typical concept to assess a strategic task or to analyze the functioning of a business. Widely used amongst the private sector to check the feasibility of decisions being made or tasks being implemented thus providing a framework for performance and management.
The article “An Application of the Balanced Scorecard to Public Transit System Performance Assessment” typically focuses on implementation of the Balanced Scorecard system to be used by the Public Transit Agency. Due to increasing taxation and Public Transit working heavily on federal subsidies is a major concern. The article further showcase the three components on which the public transit is to be assessed that is the: Efficiency, Effectiveness, and Impact. The three components have series of attributes among them which can be used to measure them. These…
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